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TELECOM
Qwest raises MCI bid to $9 bil
The local phone firm raised its buyout offer by 6.5% to $9 bil, topping Verizon's sweetened bid for MCI by 18.4%. MCI's No. 1 shareholder had called both Qwest and Verizon's previous offers too low. Qwest also hired a proxy firm, indicating a possible hostile takeover bid. Qwest fell 2%, while MCI rose 2% and Verizon rose slightly.
TECHNOLOGY
Microsoft offers TV downloads
The software giant launched a $19.95/year service that lets users download TV shows to portable devices such as media players and cell phones. Microsoft's effort aims to bolster the adoption ...